BNP Paribas Financial Markets Has $36.84 Million Position in Cytokinetics, Incorporated $CYTK

BNP Paribas Financial Markets lifted its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 134.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 579,862 shares of the biopharmaceutical company’s stock after purchasing an additional 332,397 shares during the quarter. BNP Paribas Financial Markets’ holdings in Cytokinetics were worth $36,844,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CYTK. EverSource Wealth Advisors LLC grew its holdings in Cytokinetics by 723.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 673 shares during the period. Quarry LP acquired a new stake in Cytokinetics during the 3rd quarter worth $30,000. TD Waterhouse Canada Inc. acquired a new stake in Cytokinetics during the 4th quarter worth $32,000. Advisory Services Network LLC acquired a new stake in Cytokinetics during the 3rd quarter worth $32,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Cytokinetics by 46.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 171 shares during the period.

Analyst Ratings Changes

A number of analysts have commented on the stock. Needham & Company LLC lifted their target price on shares of Cytokinetics from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Royal Bank Of Canada lifted their target price on shares of Cytokinetics from $101.00 to $119.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Wells Fargo & Company lifted their target price on shares of Cytokinetics from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Morgan Stanley lifted their target price on shares of Cytokinetics from $90.00 to $103.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Mizuho lifted their target price on shares of Cytokinetics from $84.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, March 18th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cytokinetics presently has a consensus rating of “Moderate Buy” and an average price target of $99.30.

Insider Activity

In other news, EVP Andrew Callos sold 15,857 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $65.00, for a total value of $1,030,705.00. Following the completion of the transaction, the executive vice president owned 58,555 shares of the company’s stock, valued at $3,806,075. The trade was a 21.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert I. Blum sold 36,601 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $62.15, for a total transaction of $2,274,752.15. Following the completion of the transaction, the chief executive officer directly owned 430,330 shares of the company’s stock, valued at $26,745,009.50. This trade represents a 7.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 181,909 shares of company stock valued at $11,969,996 in the last quarter. Company insiders own 2.60% of the company’s stock.

Cytokinetics Stock Down 0.3%

Shares of CYTK stock opened at $70.71 on Thursday. Cytokinetics, Incorporated has a 12-month low of $31.52 and a 12-month high of $80.20. The firm has a market capitalization of $8.80 billion, a price-to-earnings ratio of -10.34 and a beta of 0.42. The firm has a fifty day moving average of $69.55 and a 200-day moving average of $65.87.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.67). The firm had revenue of $19.36 million during the quarter, compared to analyst estimates of $8.52 million. During the same period last year, the firm earned ($1.36) EPS. Cytokinetics’s quarterly revenue was up 1112.5% on a year-over-year basis. Research analysts expect that Cytokinetics, Incorporated will post -6.27 earnings per share for the current year.

Cytokinetics Company Profile

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.